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Elon Musk May Be Feeling Buyer's Remorse As Twitter & Tesla Stocks Take A Dive

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Times could be getting tougher for Elon Musk as shares of both Twitter and Tesla have been tanking recently, reportedly shaving off a cool $40 million from his initial investment in Twitter that could have netted him a profit of $1.1 billion. Wonder if Elon is experiencing any buyer’s remorse for jumping into his deal to buy Twitter...Cenk Uygur and Ana Kasparian discuss on The Young Turks. Watch LIVE weekdays 6-8 pm ET. http://youtube.com/theyoungturks/live

Read more HERE:
https://markets.businessinsider.com/news/stocks/elon-musk-twitter-takeover-profit-loss-stock-market-crash-outlook-2022-5

"Elon Musk has seen potential gains of $1.1 billion wiped out over the past four weeks as Twitter's stock has plummeted.

Musk began snapping up shares in the social media company in January, building up a 9.1% stake. Before agreeing to buy the company outright on April 14, he owned 73 million shares at an average price of $36.16.

Twitter shares hit $51.70 on April 25 - which would have represented a $1.1 billion profit for Musk. But they've since fallen 31% to below $36 - turning that billion-dollar gain into a $40 million loss.

Twitter fell 6% Tuesday as investors sold off social media and advertising stocks after Snap announced it would miss its second-quarter revenue target. It's fallen 28% in the last month and 18% so far this year."

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220526__TB05_Dark_Days_Musk
Category
Europe
Tags
220526__TB05_Dark_Days_Musk, News, Politics
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